Uttar Pradesh Medical Supplies Corporation Limited (UPMSC)
(U.P. Government Undertaking)
Corporate Office: 9, Jagat Narain Road Lucknow, UP.
CIN: U85310UP2018SGC102425
Telephones:(0522) 2231106 E-mail: upmedicorp@gmail.com
Website : http://www.upmsc.in/ .
Expression of Interest (EOI) are invited from qualified and experienced chartered accountant/Cost
Accountant firms who wish to undertake assignment of Internal Audit of UPMSC Ltd , located at
Lucknow, for the Financial Year 2018-19. The firm should provide information demonstrating that
they have the required qualification and relevant experience to perform the services.
Interested firms may access additional information about the corporation at www.upmsc.in
The EOI must be submitted through e-tendering portal of Govt. of Uttar Pradesh
www.etender.up.nic.in.
EOI NO : UPMSC/Internal Audit/2018-19/01
EOI Date : 27th April 2018
EOI Download Beginning Date : 27th April 2018
EOI Download Closing, Submission Date & Time : 9th May 2018 till 02:00 PM
EOI of Opening Date & Time : 9th May 2018 at 03:00 PM
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Application format
1. Name of the firm
2. Firm registration No.
3. Registration Date
4. CAG Empanelment No.
5. No. of years of firm experience (cut-off date is 31.03.2018)
6. Firm's PAN (attach copy)
7. Firm's GST registration No. (attach copy)
8. Complete Office Address (including Branches, if any)
9. E-Mail ID of the Firm
10. The name, contact number & email ID of the Partner with whom the correspondence shall be
made
11. Manpower Details
I. Details of Partners
S.No Name of Partners Location Date of Joining in Specialization/Area Supporting
(HO/Branch) Firm Of Partner documents Page No
II. Details of Other Audit Staff
S.No Details of Audit Staff Qualification Location (HO/Branch) Supporting documents -Page No
indicating City Name
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III. Experience of Internal Audit during FY 2015-16 and 2016-17 in any other
Corporation/Company/Co-operative Sector (having turnover greater than Rs. 100 crores)
S.no Name of Company Period of assignment Supporting document
IV. Experience of Internal Audit of any entity listed on a recognized stock exchange apart from
the entity already stated in point III above (FY 2015-16 and 2016-17)
S.no Name of Name of Stock Period of Supporting document
Company Exchange assignment
V. Professional Receipts of the firm for FY 2016-17 (Attached certified copy of firm Financial
Statements)
We hereby confirm that our Firm has not taken any deviation from the specified terms & conditions
of the EOI documents. A copy of complete EOI documents duly signed and sealed on all pages as a
token of acceptance of all terms and conditions as mentioned in attached annexure A. We confirm
that that our Firm will execute the assignment at UPMSC from our nearest office/ branch office as
mentioned in the copy of certificate of incorporation from ICAI/ICMAI. It is certified that our audit
firm is not debarred/disqualified/black listed by any regulatory/statutory body or Government
entity.
Signature of Partner with Seal of the firm
Date :
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BROAD SCOPE OF WORK:
The scope of work includes
Quarterly physical verification of Stock at the locations mutually decided to ensure every
location is covered twice in a financial year.
Annual fixed asset verification preferably at year end.
100% Vouching of Vouchers viz Cash, Bank, Journal Vouchers.
Scrutiny of ledgers.
Checking of Bank Reconciliation and Party Ledgers.
Ensuring that Accounting standards issued by ICAI of India are complied with.
Ensuring GST compliance is being done in accordance with GST rules.
Ensuring financial statements framed are in consonance with the applicable accounting
standards need.
Ensuring compliance of provisions of Income Tax Act 1961 such as filling of TDS/TCS returns,
Payment of advance Tax, Tax audits etc.
Reporting of cases relating to fraud, misappropriation, embezzlement to the board.
To ensure that all payments / transactions are within the delegated powers as per the
instruction of the board.
To ensure the compliance of various statutory acts such as Bonus, EPF, Minimum Wages, ESI,
Companies Act 2013 etc.
MINIMUM CRITERIA
Firm not qualifying these minimum criteria need not apply and there proposal shall be summarily
rejected :
S.No Particulars Criteria
1. No. of years of firm experience Minimum 10 years of experience of firm
2. Minimum No of full time Fellow 4 No's ( fellow partners )
partners continuously associated
with firm not less than 5 years.
3. Minimum Professional turnover Rs 40 lakhs
/ receipts of the firm for FY
2016-17
GENERAL TERMS AND CONDITIONS
i) This EOI is only for the purpose of empanelment of Firms and does not guarantee/assure
allotment of Internal Audit/any other assignments.
ii) Only empanelled firms will be intimated about the decision on empanelment.
iii) The company reserves its right to accept or reject any application(s) without assigning any
reasons thereof. The decision of UPMSC Ltd Management for empanelment of Firms shall be
final and binding upon the firms participating in the process of empanelment.
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iv) The audit firm will ensure that the information obtained in respect of the working
/operation of the UPMSC Ltd is maintained in strict confidence and secrecy at all times,
including after the completion of the assignment. All such information shall remain
exclusive property of UPMSC Ltd at all the times. A certificate towards maintaining
confidentiality is to be provided by the firm at the time of acceptance of assignment.
v) If progress/performance of the audit team is not found satisfactory, management reserves
the right to terminate the appointment of the Firm, without assigning any reason
whatsoever.
vi) The empanelled Firm will be debarred from getting, in future, assignments in UPMSC Ltd in
the following cases:
i. If the Firm obtains the appointment on the basis of misrepresentation of information /
misstatement of facts at the time of submission of application/documents along with
EOI.
ii. The Audit Firm is found to have sub-contracted the work.
iii. If the Firm does not take-up assignment in terms of the appointment letter.
iv. If the Firm does not submit the Report, complete in all respects in terms of the
appointment.
v. If an applicant resorts to any frivolous, malicious or baseless complaints/ allegations
with an intent to hamper or delay the EOI process or resorts to canvassing/ rigging/
influencing the EOI process.
vii) In case of dispute legal jurisdiction shall be at Lucknow.
Requirements for application to be considered Valid.
i) Application should be in typed format only.
ii) Incomplete application would be summarily rejected. The application should be unconditional.
Conditional applications would be summarily rejected.
iii) The applicant is not entitled to any compensation for the expenses incurred in connection with
the preparation and submission of application.
iv) UPMSC Ltd takes no responsibility for delays, loss or non-receipt of documents or any letters
sent by post/courier either way and also reserves the right to reject any offer in part or full
without assigning any reasons thereof.
v) UPMSC Ltd shall always be at liberty to reject or accept any offer or offers or part thereof at its
sole discretion. The submission of offer shall have no cause of action or claim against UPMSC
Ltd for rejection of offer. The firm, whose offer is not accepted shall not be entitled to claim any
costs, charges and expenses incidental to or incurred in connection with submission of offer or
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its consideration by UPMSC Ltd, even though UPMSC Ltd may opt to modify/withdraw the
terms and conditions laid down in EOI or does not accept the offer or cancel the EOI as a whole.
vi) All the documents should be signed by a Partner with his/her name under the seal of the firm.
vii) All Applications must be submitted through e-tendering portal of Govt of Uttar Pradesh .
viii) Minimum criteria as specified must be met .
List of Documents to be attached along with the application/EOI
Interested firms are advised to go through the contents of the EOI documents carefully and submit
the self-attested copies of the following documents in proper sequence along with the EOIs as
described hereinafter:
1. Typed Application to be filled & signed.
2. Latest Registration certificate of the firm issued by ICAI/ICMAI & Address proof of Firm.
3. Copies of Appointment letter showing experience of Internal Audit
4. Copy of audited profit & loss accounts of the firm for the year ended 31.03.2017 showing
professional receipts of the firm.
5. Copy of PAN
6. Copy of GST Registration
Evaluation Criteria for Empanelment
In order to be eligible to be empanelled, a firm it needs to get minimum 45 points as per the criteria
as mentioned below.
S.No Particulars Criteria Maximum Supporting
Points Documents
1 No. of years of firm experience 10-15 years- 5 10 Copy of
(minimum 10 years) points certificate from
ICAI/ICMAI
15-25 years- 7
points
Above 25 years-
10 points
2 No of Partners 5 points for upto 10 --do--
4 partners,
1 for each
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additional
partner
3 Experience of Internal Audit in 3 points per 9 Copy of
any Corporation or Company or entity in either Appointment
Cooperative society during FY year (same entity letter issued by
2015-16 or 2016-17.(Having cannot be Company
Turnover exceeding Rs. 100 counted in both
crores) the years)
4 Experience of Internal audit of 4 points per 8 Copy of
any entity listed on a recognized entity in either Appointment
stock exchange during FY 2015- year (same entity letter issued by
16 or 2016-17 cannot be Company etc
(Apart from the entity already counted in both
used in point 3 above) the years)
4. Experience of Statutory/Internal 6 points 6 Copy of
Audit of Medical Sector during Appointment
FY 2015-16 or 2016-17 having letter
turnover of more than 100
crores
5. Professional turnover / receipts Rs 40- Rs 80 lakh 10 Copy of audited
of the firm for FY 2016-17 ­ 3 points financial
statement.
Rs 80 Lakh to Rs
150 lakh-5 points
More than Rs
150 lakh -10
points
6. Head Office/Branch Office 5 points 5 Copy of
Situated at Lucknow certificate from
ICAI/ICMAI
7. Firm empanelled with C&AG of 2 points 2 Copy of
India empanelment
letter
Total Points 60
Note : Supporting documents as above must be furnished along with the application ,in case
supporting documents not submitted ,the offer shall be rejected.
Selection Criteria & Other Terms and Conditions
I. The top 10 audit firms securing minimum 45 points (including ties, if any) shall qualify for
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empanelment. Financial bids for the entire year shall be called from all the empanelled firms and
the work will be awarded to Lowest bidder.
In case of a tie, the offer shall be given to the firm which was incorporated earliest.
II. The frequency of audit shall be monthly with regular presence of a partner and a qualified
member. Cumulative report to be submitted within 45 days of quarter closing. Payment will be
released as under:
S. No Quarter/period % Total fee Payable
a) On Submission of Audit report of 1st Quarter 20% of total bid fees
b) On Submission of Audit report of 2nd Quarter 25% of total bid fees
c) On Submission of Audit report of 3rd Quarter 25% of total bid fees
d) On Submission of Audit report of 4th Quarter 30% of total bid fees
III. Travelling expenses
If the auditors are required to travel outstation in connection with the internal audit of the
corporation they shall be paid travelling expenses as follows:
Fare equivalent to 2nd class AC (Railway) fare for Partners/Qualified Staff and 3rdA/C
(Railway) for other staff.
Fixed daily allowance (including stay and food) at Rs 1,500/- per day per
Partners/Qualified Staff and Rs 1,000/- for others.
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UNDERTAKING
The Managing Director,
Uttar Pradesh Medical Supplies Corporation Ltd,
Jagat Narain Road,
Lucknow.9
Sub:EOI No ___________________________ Dt ___________, UPMSC Ltd
Dear Sir,
Kindly refer to the subject cited above and find enclosed our application on your prescribed format.
I certify that the information provided in the above Expression of Interest form is true to the best of
my knowledge. I also understand that any misleading or wrong information will disqualify my firm
from this application straightaway.
We are looking forward to take this opportunity.
Regards.
(Partner )
Date:
Place:
Signature Not Verified
Digitally signed by BIPUL KUMAR
UPADHYAYA 9
Date: 2018.04.27 16:16:13 IST
Location: Uttar Pradesh